Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj

If you've been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.

This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what's going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.

Today's calendar of scheduled events is the busiest of the week with Jobless Claims at 8:30am followed by Philly Fed and Existing Home Sales at 10am. All the reports are important as Jobless Claims covers the week that coincides with the data collection for Nonfarm Payrolls. This doesn't guarantee a big reaction, but increases the chances that it will be slightly bigger than normal. Philly Fed is always a potential market mover and Existing Home Sales is one of the more widely followed housing metrics. In the current case, some traders may be looking for confirmation of recent better-than-expected housing data.

Bond markets continue to reserve the right to completely ignore the economic data and continue following technical paths. These paths are both the longer term downtrends in rates going all the way back to February and the short term path acting as a correction after last Friday's big rally (discussed HERE). The frustrating thing about moving higher in rate at the moment is that this correction could take rates quite a bit higher and STILLnot break the longer term downtrend.

MBS Pricing Snapshot

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

MBS

FNMA 3.0

98-19 : -0-03

FNMA 3.5

102-09 : -0-03

FNMA 4.0

105-16 : -0-02

Treasuries

2 YR

0.4720 : +0.0000

10 YR

2.4390 : +0.0110

30 YR

3.2280 : +0.0070

Pricing as of 8/21/14 7:42AMEST

Tomorrow's Economic Calendar

Time

Event

Period

Forecast

Prior

Thursday, Aug 21

8:30

Initial Jobless Claims (k)*

w/e

300

311

10:00

Philly Fed Business Index *

Aug

19.2

23.9

10:00

Existing home sales (ml)*

Jul

5.02

5.04

About the Author

A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators.
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Founded in 2004, Mortgage News Daily has established itself as a leader in housing news, analysis and data. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal - keeping our readers informed.